Time of greatest opportunties!
Categories: Buying Real Estate, In The News, Real Estate News
hiHave you noticed how some people have all the luck? Some people just seem to be in the right place at the right time — at least that’s what it appears on the surface. Remember when the Dow was at 14000 and you would hear people would say; “I wish would have gotten in when it was 9,000 or 10,000. A few years back you would hear people say, I wish I could find a house I can afford. Things are bad on the surface, but actually for a lot of people these are the times of greatest opportunities.
Not long ago a young man asked me; “If you come across a great deal please give me a call. ” Recently his day came as I received a new listing for a 3 bedroom 2 bath condo built in 2005 offered for $40,000 near where he lives. This was his opportunity of a lifetime — he could have bought this place with as little as $1200 down and about $750 month for mortgage, tax and maintenance. Yes… you’re right, he let it pass –he did not like to make big decisions that quickly. This reminds me of a statement I heard about missed opportunities – “I spent most of my life waiting for my ship to come and when it finally did I was at the train station”.
Yes, these are very scary times… times we will be sharing with our children, grandchildren and great-grandchildren — but these are also the times of greatest opportunities. Two quotes to remember at times like these are; John D. Rockefeller when asked about his strategy for making money. “The way to make money is to buy when blood is running in the streets.” That’s a little too crude for me, so I rather focus on another famous quote. Warren Buffett when asked about his strategy for investing. “We simply attempt to be fearful when others are greedy and to be greedy only when others are fearful.” Curiously as many investors are dumping their stock, Mr. Buffett is buying.
During these times some people are going withdraw in fear while others will move ahead beyond their fears. This is a good time to also remember Franklin D. Rooselvelt famous quote “The only thing we have to fear is fear itself.” A few years from now we may recognize these times as the time of greatest opportunities in the 21st Century. A few years from now we are going to see some people around us who were lucky; some people who were in the right place at the right time. Are in the right place? Is this the right time for you? Are you going to be one of those lucky people?
Interested only in very good deals
What is a “very good deal”? The fellow mentioned in my blog did not know what was a “very good deal”. So when a “very good deal” came, he did not recognize it.